Question

The following data pertain to the Waikiki Sands Hotel for the month of March. Banquets and Catering Restaurants Kitchen staff wages Food Paper products Variable overhead Fixed overhead Flexible Budget Actual Results March March (in thousands) * (in thousands ) * $ 715 $ 736 1,930 1,911 (111) (112) (755) (768) (164) (161) (101) (104) (116) (132) *Numbers without parentheses denote profit; numbers with parentheses denote expenses. Required: Based on Exhibit 12-4, prepare a March performance report and use the same data for year-to-date columns in your report. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable. Select "None" and enter "O" for no effect (i.e., zero variance). Enter your answers in thousands.) WAIKIKI SANDS HOTEL Performance Reports for March (In Thousands) Flexible Budget Actual Results March Year to Date March Year to Date Variance Year to Date March Food and Beverage Department Banquets & Catering Restaurants Kitchen Total profit Kitchen Kitchen staff wages Food Paper products Variable overhead Fixed overhead Total expense

Answer 1

		WAIKIKI SANDS HOTEL
		Performance Reports for March
		(in Thosands)
			Flexible Budget(in '000)		Actual results(in '000)		Variance
			March	Year to date	March	Year to date		March		Year to date
		Food and Bevergae Department
		Banquets & Catering	$715.00		$736.00			$21.00	F
		Restaruants	$1,930.00		$1,911.00			$19.00	U
		Kitchen	$1,930.00		$1,911.00			$19.00	U
		Total Profit	$2,645.00		$2,647.00			$2.00	F
		Kitchen
		Kitchen staff wages	-$111.00		-$112.00			$1.00	U
		Food	-$755.00		-$768.00			$13.00	U
		Paper Prodcuts	-$164.00		-$161.00			$3.00	F
		Variable Overhead	-$101.00		-$104.00			$3.00	U
		Fixed Overhead	-$116.00		-$132.00			$16.00	U
		Total Expenses	-$1,247.00		-$1,277.00			$30.00	U
		Note:Since no data provided for Year to date hence the same is left blank